Many analysts are positive on Mahindra & Mahindra (M&M).
The brokerage has retained a 'buy' rating for M&M but lowered its target for the stock to Rs 3,180 from Rs 3,340.
Describing FY24 as the 'year of SUVs' for M&M, Citi expects better growth momentum in the auto major's tractor business in FY25.
The brokerage has lowered its volume estimate for M&M in its SUV business. However, its view on M&M's tractor business remains positive.
The brokerage has a target of Rs 3,281 for M&M shares.